Formed only two years ago, the San Francisco-based firm has achieved the kind of return that much more established venture firms dream about.

The Facebook-Oculus deal “provides a few thousand percent [investment rate of return]” to the firm, said Joe Lonsdale, Formation 8’s general partner, who is also a co-founder of Palantir Technologies Inc., a major privately held software company.

The Facebook acquisition of Oculus also “returns well over $100 million in gains to my [limited partners],” he said.

Formation 8 had put $12.5 million into Oculus in its two venture financing rounds in 2013.

The firm has offices in Silicon Valley and throughout Asia, where it boasts strong connections, especially in South Korea. That allowed the Formation 8 team to help Oculus management, Mr. Lonsdale said.

“[We] introduced them to Samsung and helped them in Asia for how they produce the devices,” he said.

One of Formation 8’s co-founders is Brian Bonwoong Koo, who is member of the family that owns LS Group, a South Korean conglomerate and a spin-off from LG Group. LS is an anchor investor in Formation 8. The firm’s other limited partners include Korea Telecom and CJ Media Entertainment, also based in South Korea.

Its other investors are several individuals. The firm previously said some of them are founders of PayPal, Yahoo and Facebook.